Credit advice message

This message is available for formal trial for at least six months from the date of approval by UN/ECE/TRADE/WP.4.

Organisations are invited to trial this message. Comments on the results from the trial should be forwarded to their Rapporteur's Team Secretariat as soon as they are available. Based on the results of the trials, a UNSM may be issued.

The segments, composite data elements, data elements and codes for use in the trial of this message are contained in the Draft directory. However, this information may differ from that in the Standard directory (UNTDID), even for material having the same identifying tags.

This specification provides the definition of the Credit advice message (CREADV) to be used in Electronic Data Interchange (EDI) between trading partners involved in administration, commerce and transport.

A Credit Advice is sent by the Account Servicing Financial Institution to the Account Owner to inform the Account Owner that its account has been or will be credited for a specified amount on the date indicated, in settlement of the referenced business transaction(s).

A segment identifying certain characteristics of the Credit Advice, such as its business function. In so doing, it provides information about the message that may be used to route the message within an institution, for tariffing, or for the provision of some statistical information.

A segment identifying the reference currency and the target currency of the transaction when they are different. The rate of exchange is solely used when previously agreed between the Ordering Customer and the Ordered Bank.

A group of segments providing information about the financial institutions and accounts of each party to the Credit Advice, together with details of any parties contacted or to be contacted in relation to the transaction, and any required action by parties to the transaction.

A segment identifying the name and address of the non-financial institutions associated with the Credit Advice and their functions. Identification of the Payor and Payee parties is mandatory for the Credit Advice message and should be given in this segment.

A group of segments containing instructions relating to parties identified in the NAD and FII segments. It specifies action taken or to be taken by the identified parties, and the date (and optionally time) by which such action was taken or needs to be taken.

A segment identifying the party originating the instruction, the parties contacted or to be contacted at or by the associated financial institution on matters concerning the execution of the payment. It specifies where appropriate the instruction in coded form.

A group of segments providing full details of all charges, or allowances, and associated taxes, that apply to a particular transaction, together with information as to who bears the charges, and to which account they have been directed. A total value of all charges plus allowances may be given for every account to which charges may be directed. Where charges are subject to taxation this may also be specified.

A segment giving the total value of charges and/or allowances and associated taxes, that relate to an account for charges/allowances. This segment also identifies the basis amount from which charges are calculated, if different from the overall amount of the original order.

A group of segments providing information for subsequent use by regulatory authorities requiring statistical and other types of data. It also identifies the regulatory authority for which the information is intended followed by the information itself.